fbpx

Understanding your investment

Buying a home is a significant investment, and this investment contains a lot of different pieces and systems. Understanding your investment and the life expectancy of these systems is key to maximizing your investment.

When purchasing a home, you want to pay attention to the age and condition of key pieces and systems. For example, how old is the roof? When was the home last painted? What are the condition of the appliances? When was the HVAC system serviced?

For your protection, get a Home Inspection

One way to answer these questions and more is to get a home inspection. We always encourage our clients to get a home inspection so they know the condition of all the systems of the home. This inspection report is one of the key factors when deciding on purchasing a home, and where repair monies should be spent.

We buy you a home warranty

As another protection, we purchase a home warranty for all our buyers. This warranty will protect the parts of the home for a year. Since we do many transactions a year, we have relied on this home warranty many times to save our clients from loss of heat, water, or a leaky roof. We think a home warranty is mandatory, which is why we buy it for our clients.

Make sure to create a home emergency fund

As part of your home investment, we also recommend saving 1% of the value of the home ever year. For a $350,000 home, you will want to save $3,500 a year. This money is for home repairs, replacement of appliances, windows, etc. Think of this as an emergency fund for your home.

You want to understand the life expectancy of the pieces and systems of your home. Using your home inspection reports, you can get a good idea of the condition of these systems. And you are covered with your home warranty, in the event something goes wrong. Also, having your home emergency fund will give you peace of mind and security.

How Long Will My Home Last?
Tagged on: